Mortgage overpayments question

girlie1412

@K_S thank you for answering. I have sent an email to Kensington. 

girlie1412

This is the answer I got from Kensington today following the question with regards to overpayments to their mortgages; 
very limited with regards to overpayments during the fixed term of the mortgage… so if I am understanding correctly as long as total of overpayments is below £5000.00 during fixed term no charge is payable… 

“Thank you for getting in touch. You can make overpayments on your mortgage should you so wish. An early repayment charge will be applicable both if you redeem in full and if you make overpayments totalling £5,000 or more during your fixed rate term. If you make overpayments larger than £5,000 or that all together total £5,000 or more, then the early repayment charges as set out in your mortgage offer will apply. The illustration shown in your offer is the maximum amount of early repayment charge that will apply, early repayment charges are calculated as a percentage of the amount paid. There is no other annual allowance with regards to overpayments as £5,000 is the threshold for early repayment charges for the entire fixed rate term. I hope this helps, if you have any questions or need anything else, please let us know.”

K_S

@girlie1412 Thank you for updating the thread and I'm sorry to hear that it's over the fixed term and not an annual allowance.